UC RUSAL and Ust-Luga company sign a memorandum of cooperation to create a trans-shipment complex at Ust-Luga port

UC RUSAL, and Ust-Luga Company, the developer of Ust-Luga trade sea port, signed a memorandum of cooperation to construct a trans-shipment complex. The complex will consist of two terminals designed to transport aluminium and alumina at Ust-Luga trade sea port located in Leningrad oblast. UC RUSAL will invest over USD 300 millions in the project.

The parties plan to launch the complex by 2011 with an initial shipment capacity of 2.5 mln tn of alumina and 2 mln tn of aluminium. The capacity of trans-shipment complex could be further increased to 4.5 mln tn of alumina and 3.5 mln tn of aluminium.

The project will become the first step for UC RUSAL in implementing its strategy to create its own special port capacities, which will enable effective trans-shipment of raw materials and finished products following the company's plans to increase production. The complex will be equipped in accordance with the best international standards, including environmental requirements.

Ust-Luga Company is the developer of the Ust-Luga trade sea port located in Luga Bay of the Gulf of Finland. The construction of the new port at the Baltic Sea is implemented under private-public partnership as part of the federal government program Modernization of Russian Transportation Network. This is the largest infrastructure project in Russia for the next few years. Ust-Luga is a multipurpose port with overall capacity of 120 mln tn of cargo a year. By 2010 the port's capacity is planned to be increase up to 50 mln tn.